UTV Software acquires US gaming company

August 18th, 2008 - 8:36 pm ICT by IANS  

Mumbai, Aug 18 (IANS) India’s leading media and entertainment company UTV Software Communications announced Monday that its UK unit IG Interactive Entertainment has acquired 80 percent stake in the California-based gaming company True Games Interactive.The financial details of the deal have not been disclosed.

Earlier in July, UTV said it would invest $75 million in its gaming business.

The company had also said it would increase its stake in a subsidiary Ignition Entertainment from 70 percent to around 95 percent and pump money into the working capital of Ignition for its three high-end console games, being developed at its facilities in London, Florida and Tokyo.

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